Final answer:
Calculating dish prices in a hotel restaurant involves considering the cost of production and the desired profit margin. Menu costs and price stickiness may also affect price adjustments. Portion control is critical for maintaining cost-effectiveness and meeting profit goals.
Step-by-step explanation:
When calculating the selling prices of dishes in a hotel restaurant, a number of factors must be considered to ensure portion control and profitability. The price is ultimately composed of two main components:
- The cost of production, which includes the cost of ingredients, equipment (like pizza ovens for a pizzeria), facility rent, and labor costs (workers' wages).
- The business's desired profit margin, which accounts for how much profit they aim to make on top of the costs. This includes understanding market competitiveness and maintaining a balance between being profitable and offering competitive prices.
Moreover, there are additional concerns such as menu costs, which encapsulate the administrative and customer impact of changing prices, and market delays in price adjustments due to price stickiness.